SOUTHERN PERIPHERAL ROAD - EMERGING REALTY HOTSPOT IN GURGAON

Created on 15.10.2016 23:01:23

Southern Peripheral Road (SPR) in New Gurgaon in the Delhi NCR is drawing at tention of end users and investors alike.

The region is emerging as one of the fastest growing real estate hotspots and offers a host of options for investment from reputed developers--at affordable prices--which is expected to have capital appreciation of nearly 25-30% in the near future.

Given the factors working in favour of SPR, many prominent developers like Tulip Infratech, Raheja Developers, Supertech, Mapsko, Tata Housing, DLF, Unitech, GPL, AIPL, BPTP, among others, have launched several projects in the area--some ready-to-move-in and some forthcoming luxury projects.

Why SPR: A crucial link between Faridabad-Gurgaon Road, Golf Course Extension Road, and Dwarka Expressway (also called Northern Peripheral Road or NPR), the Southern Peripheral Road (SPR) is an emerging realty hotspot in New Gurgaon. This affluent locality will have a mix of residential and commercial properties in the next few years.

Positioned as an upmarket location, this 16km long and 150-metre-wide road intersects Sohna Road at Badshahpur and connects NH-8 to Golf Course Extension Road.

This area has many factors going for it like proximity to the developed areas of Gurgaon, excellent connectivity, presence of educational institutes, residential hubs, commercial space, presence of affordable housing and pre mium projects, all of which work in favour of SPR, making it an excellent residential hub in the making.

SPR is also linked to Dwarka Expressway through NPR. Further, through Hero Honda Chowk, Rajiv Chowk, and NH-8 on SPR, one can easily reach Delhi, Faridabad, and Gurgaon. The residential areas adjacent to the SPR include Sectors 69, 70, 70A, 71, 73, and some portions of 48, in Gurgaon. Nearly 20,000 units are under construction in various sectors along this road.

The properties under construction here are priced in the range of Rs 4,500-9,500 per sq ft, which is nearly 20-30% lower than the prices of projects on Sohna Road and Golf Course Extension Road.

Experts say that this belt will become a premium residential hub in the near future due to the construction of luxury and ultraluxury projects here. These units come with modern amenities like clubs, swimming pools, gym, high-specification interiors, etc; a majority of apartments in the location are 3and 4BHKs of 1,500 to 3,000 sq ft.

Apart from residential projects, this area also has a great potential for institutional and commercial development. Sectors 74, 75, and the belt in front of Sectors 71 and 73 are designated for commercial development.SPR is also in close proximity to DLF Corporate Greens (with Tata Consultancy Services office), next to NH-8. Some major infrastructure projects have been planned along SPR under the New Gurgaon-Sohna Master Plan, 2031.

These include the extension of Delhi Metro's Yellow Line and extending the SPR into a six-lane expressway and linking it to GurgaonFaridabad Road. Once complete, SPR will provide excellent connectivity from NH-8 to Golf Course Extension Road. --A K Tiwary